Economics

> Macondiac

Wages aren’t stagnating, they’re plummeting. Many economists have expressed concern that median wages have stagnated since the 1970s, as illustrated in the following chart from the Economic Policy Institute.

An analysis of the relationships between 43,000 transnational corporations has identified a relatively small group of companies, mainly banks, with disproportionate power over the global economy. The study's assumptions have attracted some criticism, but complex systems analysts contacted by New Scientist say it is a unique effort to untangle control in the global economy. Pushing the analysis further, they say, could help to identify ways of making global capitalism more stable. The idea that a few bankers control a large chunk of the global economy might not seem like news to New York's Occupy Wall Street movement and protesters elsewhere (see photo).

£13tn: hoard hidden from taxman by global elite. A global super-rich elite has exploited gaps in cross-border tax rules to hide an extraordinary £13 trillion ($21tn) of wealth offshore – as much as the American and Japanese GDPs put together – according to research commissioned by the campaign group Tax Justice Network.

How Money is Made / Created: Ben Dyson Explains the Debt Crisis. Www.feasta.org/wp-content/uploads/2012/06/Trade-Off1.pdf. The Financial Crisis Was Foreseeable … Thousands of Years Ago. Economists, Military Strategists and Others Warned Us … Long Ago We’ve known for 4,000 years that debts need to be periodically written down, or the entire economy will collapse.
We Have Forgotten What the Ancient Sumerians and Babylonians, the Early Jews and Christians, the Founding Fathers and Even Napoleon Bonaparte Knew About Money. Mike “Mish” Shedlock has repeatedly pointed out that we have reached “peak credit” – and there will not in our lifetimes be as much credit as we saw from 2000-2008.

I noted last year: Michael Hudson is a highly-regarded economist. He is a Distinguished Research Professor at the University of Missouri, Kansas City, who has advised the U.S., Canadian, Mexican and Latvian governments as well as the United Nations Institute for Training and Research.
Community-Wealth.org: Wealth-Building Strategies for America's Communities. The New Totalitarianism: How American Corporations Have Made America Like the Soviet Union. Photo Credit: Viajar24h.com July 15, 2012 | Like this article?

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Capitalism’s Brave New World. There is a certain view of economics that regards Amazon’s Mechanical Turk as both a utopian scheme and a vision of the future.

Free-marketers and libertarians will be awed by the spectacle of an untrammeled labor market: A cavalcade of employers make available a wide variety of work. The jobs and compensation are exhaustively defined. A multitude of laborers examine this menu and decide which jobs appeal to them and whether the compensation is adequate. No one is forced to take a job he doesn’t like.

No one gets tricked into a job he didn’t sign up for.
Roubini Says 2013 `Storm' May Surpass 2008 Crisis: Video. The U.K. Riots And The Coming Global Class War.

MetaEconomics

Thinking outside the 1930s box. 7 October 2011Last updated at 14:38 There are two kinds of people at present: those who know in a vague way that the 1930s was a bad time, and those who have studied the detail and understand the economics of why it went bad.

The latter are now getting publicly terrified because they can see, very clearly, the danger of doing it all again. They include Sir Mervyn King on Sky last night: "This is the most serious financial crisis at least since the 1930s, if not ever.
" And Barack Obama, whose comment "Europe is scaring the world" hit the nail on the head.
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World now has 'more people dying from obesity than malnutrition'
More people in the world are now dying from obesity than malnutrition, anti-poverty campaigners say.

There were 1.5billion dangerously overweight people worldwide last year, while 925million were underfed, according to the Red Cross.
Great Stagnation...or Great Relocation?

2008 Crisis

Economics Studies/ Articles. Www.concept67.net/pdf/economicdesign_p1.pdf. "They've traded more for cigarettes / than I've managed to express"; or, Dives, Lazarus, and Alice. "They've traded more for cigarettes / than I've managed to express"; or, Dives, Lazarus, and Alice Attention conservation notice: 1000+ words on the limits of welfare economics, in the form of a thought experiment or parable superficially tuned to the holiday (and brooding on my hard-disk for months). Gloomy, snarky, heavy-handed, academic, and obvious to anyone who knows enough about the subject to care. Have you no friends and family to whom you should be showing your love (perhaps in the form of food)? Let us consider a simple economy with three individuals.